The latest report by IMARC Group titled,“Ghee Market in India: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2021”, critically examines the Indian ghee market. Ghee refers to clarified butter, obtained by simmering the butter and retaining the liquid fat after the solid residues have settled. Its colour, texture and taste depend upon the quality of milk used in churning the butter. Ghee represents a healthier substitute of butter and vegetable cooking oils as it is a rich source of vitamin K2, A, D and E. In addition, it also provides numerous health benefits such as reducing inflammation, improving gall bladder function and digestion, and strengthening nervous system. Owing to its benefits, ghee is widely used for culinary, religious and medicinal purposes in India. According to the report, the ghee market in India reached a value of around INR 1729 Billion in 2017, exhibiting a CAGR of nearly11% during 2010-2017.
Highlights of the ghee market in India:
• The market is driven primarily by expanding distribution channels in the country.
• Uttar Pradesh represents the largest market, accounting for the majority of the share.
• The market is expected to reach a value of nearly INR 3937 Billion by 2023.
The strong growth of the Indian ghee market can be attributed to numerous factors. One of the major driving factors is the fact that the majority of the Indian population is engaged in agricultural practices which involve a lot of physical labour. Thus, ghee is considered as a vital source of energy and nutrition in an Indian household. Apart from this, growing health-consciousness among the consumers has prompted manufacturers to come up with organic ghee, which in turn, has added to the overall demand. Some of the other driving factors include population growth, rising disposable incomes and expanding distribution channels in the country. The market is further expected to reach a value of more than INR 3937 Billion by 2023, growing at a CAGR of nearly 14.7% during 2018-2023.
The report provides a thorough evaluation of the market across fifteen major states of India along with analysis of the current and historical value and volume trends. The market is segmented on the basis of region. Currently, Uttar Pradesh represents the largest market, accounting for nearly XX% of the total share, followed by Rajasthan and Madhya Pradesh. Apart from this, an analysis of the competitive landscape provides the details of the key players operative in the market. Some of them are GCMMF, KMF, Mother Dairy, Sri Vijaya Visakha Milk Producers and Heritage.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Follow us on twitter: @imarcglobal